Elon Musk tells Tesla employees to hold on to their stock amid harsh selloff

[groundloop]

Source: The Guardian

Elon Musk attempted to reassure Tesla employees of the automaker’s “bright and exciting” future at a company all-hands meeting on Thursday, urging them not to sell their stock even as the company’s valuation slides precipitously downward.

“There are times when there are rocky moments,” the billionaire CEO told his employees. “But what I’m here to tell you is that the future is incredibly bright and exciting, and we’re going to do things that no one has even dreamed of.”

During the meeting, which was broadcast on X, Musk urged employees to “hang on” to their stock in the face of a 50% drop in share prices. Tesla has borne the brunt of the backlash against the tech executive’s role in Donald Trump’s administration. In the months since Trump named Musk the head of what he calls the “department of government efficiency” (Doge), the world’s richest person has dismantled entire federal agencies, canceled contracts across bureaus that had any mention of diversity, equity and inclusion, and made a gesture at a rally that his estranged daughter called “definitely a nazi salute” in an interview this week.

In response, Tesla owners are attempting to sell their vehicles; the company’s stock price has plummeted and Teslas around the country have been vandalized – some even set on fire with Molotov cocktails. The Vancouver International Auto show announced earlier in the week it had removed the company from the lineup for its upcoming showcase over security concerns as the protests against Musk spread.

Read more: https://www.theguardian.com/technology/2025/mar/21/elon-musk-tesla-stock

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This reminds me of when a former employer, after being bought out by a vulture capital firm, was pushing employees to get into the company stock purchase plan....... not long before declaring bankruptcy. I'd been participating in the employee stock plan for several years and wound up losing over $10,000 in that bankruptcy.

[hlthe2b]

1. Psychologically, doesn't the fact he is even putting this out--begging employees not to cash out--sending

a really bad message? 'Seems to me that would convince me to sell while I still could--or at least that which I could not afford to lose.

[SheltieLover]

14. Absolutely!

[hlthe2b]

20. Well, it is up about 10 points today (noon MT) so someone must be trying to help him...

246.77 USD +10.51 (4.45%)
today

[Demobrat]

37. Retail investors.

The big funds are selling and the little guys are buying.

[Xolodno]

46. That or....

...Tesla is looking ripe for the taking. If execs are dropping their shares, that's usually not a good sign.

[Demobrat]

47. I read an article this morning, can't find it now though.

It talked about this. Maybe the commerce secretary going on Fox a few days ago and telling the MAGAts to buy the stock worked. They’re just that gullible.

[CanonRay]

2. His brother sold his shares

it's 10 times overvalued, but yeah you suckerd hold yours.

[Think. Again.]

17. So did a couple of the Tesla executives.

[BattleRow]

27. To borrow a phrase.."Suckers and losers".

[House of Roberts]

3. Reminds me of Enron.

Employees weren't allowed to sell, while the big investors got out early.

[erronis]

23. My first thought, also.

[Comfortably_Numb]

30. Exactly like Enron.

Enron CEO Kenneth Lay and other executives, including Jeffrey Skilling, sold significant amounts of Enron stock before the company's collapse, while also urging employees to buy shares, raising questions about insider knowledge and potential manipulation.

[Blue Full Moon]

33. And USEC

[poozwah]

34. name change

enron musk?

[House of Roberts]

40. Wonder how that would play in the greater media-verse?

Might catch on, with Starlink fading, Tesla losing sales, and SpaceX not exactly doing so great themselves.

[sop]

4. Elon would buy up all the shares people are dumping if he actually believed his own bullshit.

[SheltieLover]

13. Exactly!

[BlueSpot]

57. That is an excellent point. n/t

[JohnSJ]

5. With a PE of over 100, and more competition coming to market, along with the fact the his largest buyers of Teslas are

environmentally conscious progressives which musk has actively disparaged

My only question is:

Would you buy a used car from him?

[SheltieLover]

12. Hell no!

[JohnSJ]

15. Exactly.

[SheltieLover]

16. But I've never felt compelled to drive a pos video game controller

[GusBob]

6. Reminds me of that show

The Big Short

[erronis]

26. Actually to give credit: Michael Lewis's book - The Big Short

https://en.wikipedia.org/wiki/The_Big_Short

[rampartd]

7. that is exactly what ken lay told the enron employees

as he dumped his own golden parachute.

[BattleRow]

24. You beat me to it!

Enron..first thing that came toy mind!
I always called it endrun...

[Baitball Blogger]

8. Rocky moments were created by Elon Musk dismantling everyone's well-earned money.

[YorkRd]

9. Musks brother sold his stock

[Think. Again.]

18. So dd a couple of tesla execs.

[dickthegrouch]

10. Is the SEC still functional?

Asking for a fiend.

[SheltieLover]

11. Translation: please don't crash my stock

[SunSeeker]

19. That doesn't work when there's a run on banks and it won't work for Tesla stock.

When people are afraid of losing their money they want out.

[sinkingfeeling]

21. Little pissant likes giving orders.

[flvegan]

22. Speaking of harsh sell-offs: Record Tesla Trade-Ins Hit

As Owners Turn Their Backs On The Brand

Read More: https://www.jalopnik.com/1815968/tesla-trade-ins-owner-turn-backs-on-brand/
"Tesla cars from model year 2017 or newer accounted for 1.4% of all the vehicles traded in until March 15, up from 0.4% in March last year, according to data provided to Reuters by Edmunds. Analysts at the national car shopping website said that share could grow through the second half of the month.

Read More: https://www.jalopnik.com/1815968/tesla-trade-ins-owner-turn-backs-on-brand/"

LOL, though I am sorry for those that bought a Tesla with good intent, prior to realizing Elon was such a shit human.

[Demobrat]

48. A lot of them are probably leased.

People will hold on until the lease is up and then move on to something else.

[flvegan]

49. I don't think a leased Tesla

when turned back to the dealer (Tesla) it will count as a trade-in.

[GiqueCee]

25. Musk is an unrepentant sociopath...

... who is incapable of admitting a mistake; he'll just keep digging his own grave deeper, until someone he fucked over actually puts him in it. The sooner the better.

[pfitz59]

28. A friend 'had' $30,000 in Tesla stock

It's down quite a bit. Part of his retirement portfolio. He's tempted to sell before losing it all. He's not sure what to do. He hates Musk.

[AZ8theist]

55. I sold at $400/share.....

I will NEVER buy that crap again under any circumstances.

But thanks, Eloon. I made a boatload of money off of you. Before you showed the world that you're a FUCKING Nazi.

[stoned]

29. I bought during the dip

I'm sure that will make me no friends here, but I keep emotion out of my market decisions.

[questionseverything]

54. If you could sell that stock later, at a time it makes you money

And hurts him, win-win

[stoned]

59. Most likely

I'll be keeping it for the next 30 years, and buying more when it dips. I do zero "day trading" and 100% of my investments are medium- and long-term.

[IronLionZion]

31. I encourage MAGAts to buy Tesla stock, put it all in. Make it great again

[LetMyPeopleVote]

32. Musk is trying to defraud his employees

Tesla is overvalued and these employees should sell

Link to tweet

This same trick was used by Enron management before Eron went under

Link to tweet

Link to tweet

[Yavin4]

35. Yes. Stay on the Titanic and remain calm. Everything will be okay.

Meanwhile, the executives are heading for the lifeboats. Shades of Enron.

[Dave Bowman]

36. Sell, sell! Everything must go! Also start looking for another job before the bankruptcy.

[Mblaze]

38. Plus the new Chinese electric cars

are two times better at half the cost. Tesla is being propped up by tariffs and American reluctance to import Chinese cars.

[Sky Jewels]

39. I don't see Tesla sales rebounding

like, ever. His name is poison worldwide and with the type of Americans who are most likely to buy an EV. They have other, better, cheaper option than his cars, especially the hideous held-together-by-Elmers-Glue Nazimobiles. They won't be able to stop the anti-Tesla vandalism, and who is dumb enough to buy a car that you have to worry about getting keyed, spray painted, or torched every time you park it outside your own garage?

[mdbl]

43. I'll never buy one. Won't even take one for free.

[tulipsandroses]

53. Add to that Insurance companies are considering increasing insurance rates for Tesla owners.

I don't know how long it will take, but my prediction is that eventually Tesla will be like Blockbuster and Phone booths. A thing of the past.

[Sky Jewels]

58. Yes!

From your mouth to Mother Nature’s ears!

[Martin68]

41. Elon's lips were moving, Time to bail.

[Ford_Prefect]

42. Everything he touches Dies !!!

[joanbarnes]

44. I dub thee Tesron!

[slightlv]

45. Do things no one has ever dreamed of!

Jeez... he even *sounds* like trump now! Always to the most extreme verbage.

[Dem2theMax]

50. I thought the same thing when I read that part!

[bucolic_frolic]

51. Principals must be careful in what they say in public.

Recommending this or that could be seen as having inside information. If we had any SEC enforcement left.

[RockRaven]

52. Just a few days ago wasn't there a story about company execs selling $100Ms?

So as top execs cash out, the peons should hold. Right. As always, do as we say not as we do.

[marble falls]

56. Tell 'em sell their stock and look into using the proceeds to buy a Rivian.

... and look into the Rivian, a dependable, real electric vehicle.



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